Posted on 04/14/2008 3:52:37 AM PDT by Fox_Mulder77
In a major speech on the economy last month, John McCain correctly diagnosed the mortgage crisis. “A sustained period of rising home prices made many home-lenders complacent, giving them a false sense of security and causing them to lower their lending standards,” he observed, adding, “Some Americans bought homes they couldn’t afford, betting that rising prices would make it easier to refinance later at more affordable rates.”
“I have always been committed to the principle that it is not the duty of government to bail out and reward those who act irresponsibly,” McCain explained, “whether they are big banks or small borrowers.” But it was a very different John McCain who showed up in Brooklyn last week and outlined a plan that appears to offer precisely the sort of bailout he had rejected. After these two performances, we’re left wondering: Which John McCain will show up Tuesday in Pittsburgh, where he is scheduled to flesh out his plan in more detail?
(Excerpt) Read more at article.nationalreview.com ...
LLS
Carolyn
I guess all politicians are flip-floppers now.
They know that no one's going to hold them to their word anymore, they'll still vote for them anyway.
“Caused them to become more complacent” HORSE HOKIES they had to lower their standards because the Dim controlled congress and white house made them, by theatening to fine them if they didn’t.
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